A realtor® - Study guides, Class notes & Summaries

Real Estate Colibri Practice Exam Questions and Answers 100% Pass Which item below can help protect against a home with a listed incorrect street address or legal description in public records? - Correct Answer ️️ -Standard coverage title insurance policy and extended coverage title insurance policy Robert owns his property and enjoys the full bundle of rights. Can he use his property as collateral for debt? - Correct Answer ️️ -Yes. Robert can encumber his property Which location...

OREC Final Kevo Questions and Answers Graded A+ The real estate market may be described in all of the following ways EXCEPT: free market. local market. moveable market. market that is slow to react to change in supply and demand. C. moveable market The provisions of the Oklahoma Real Estate License Code originate in the state legislature. The agency created in 1950 to administer and enforce the Code is the: National Association of REALTORS®. Association of Real Estate Lice...

Why have the states passed laws that require real estate brokers and sales agents to be licensed? - ANSWER to protect the public What year was the TRELA passed? - ANSWER 1949 What is the potential fine for acting as a sales agent or broker in Texas without a license? - ANSWER 4,000 Who may be a Realtor®? - ANSWER a real estate license holder who also joins a realtor board (broker) What are the 7 sources of law? - ANSWER 1. u.s. constitution 2. Federal Laws 3. Federal Regulat...

360 Training Sessions Latest Update Graded A+ National Association of Realtors (NAR) The largest professional association in the real estate industry Was first organized in 1908 To be a full member of this association, a person must be licensed in an individual state to sell real estate and must join the local board of the NAR. In most areas, this board is called the Association of REALTORS A REALTOR® is a professional in real estate who subscribes to a strict code of ethics k...

1. Which statement is TRUE regarding the use of the term REALTOR®? a. All real estate licensees are REALTORS®. b. All REALTORS® are members of the National Association of REALTORS® (NAR). c. The terms real estate licensee and REALTOR® may be used interchangeably. d. The Florida DBPR authorizes the use of the term REALTOR®. - Answer-b. All REALTORS® are members of the National Association of REALTORS® (NAR). 2. The term follow-up refers to a. returning calls in a timely manner. b....

Aceable Law of Agency Review Questions with Certified Solutions Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness,...

The _____ is required to ascertain that Brokers are aware of all of their responsibilities. - Correct Answer-Texas Real Estate Commission The _____ course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. The course provides an understanding and working knowledge of a broker's responsibilities and obligations under 22 TAC §535.2. - Correct Answer-Broker Responsibility MCE Who Must Take The Broker Responsibility MCE...

What is the name for the act of spending client funds without permission from a trust fund account? - ️️Conversion Without legal capacity and mutual consent in place, courts may likely do what to the existing contracts or agency relationships? - ️️All of the above Which step in the construction building process is likeliest to be first? - ️️Grading The term "business ethics" applies to which of the following statements? - ️️A form of applied ethics that examines ethical p...

Candidates for a Washington commission seat must have five years of brokerage experience or ______ years of experience in a related investigative position. : Three Rachel, a REALTOR®, is transferring her Washington broker's license to a new firm. She calls all of her clients and asks them to request that they be allowed to terminate their agreements with her old firm and move with her to the new firm. What code or agreement has Rachel violated? : The REALTOR® Code of Ethics In the...

Gold Coast End of chapter Questions 1-19 Which of the following statements is true regarding a mortgage loan originator? - A mortgage loan originator must have a separate license. A real estate appraiser's fee for professional service is based on which of the following? - The time and difficulty of the appraisal Which of the following best describes the real estate brokerage business? - Service Business When a developer completes construction of a new subdivision, all streets, ele...